Private equity firm Bain Capital Partners LLC has sold around 55 lakh shares of Hero MotoCorp through open market. The shares were sold on both the BSE and the NSE. On the BSE, it sold 24 lakh shares at Rs 2,636.15 apiece, while on the NSE, the sale price for Bain Capital was Rs 2,636.76 shares apiece.
Except for 10 lakh shares that were bought by Goldman Sachs Singapore Pte on the NSE, identities of other buyers were not disclosed by the exchanges. The deal is estimated to be fetched Bain around Rs 1,500 crore.
Hero MotoCorp is the World’s single largest two-wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors in 1984. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.
